Weekly Market Review

Indian Market:

The benchmark Nifty bounced back smartly in the last half an hour of trade and closed above the 6000 - an important psychological level.

30-share BSE Sensex closed at 20,032.34, up 91.30 points or 0.46% and the 50-share NSE Nifty rose 30 points or 0.50% to settle at 6,017.70. The Nifty November futures' premium trimmed down to 22 points from 40 points. For the week, the Sensex fell 0.66% and Nifty lost 0.8%.

Bharat Heavy Electricals Ltd., India's biggest power-equipment maker, posted a 33 percent increase in second-quarter profit, beating estimates, as orders rose on demand from utilities.

Global Cues:

Asian markets edged lower on Friday as Sharp Corp. and Advantest Corp. cut their profit forecasts. The key benchmark indices in China, Hong Kong, Taiwan, Singapore, South Korea, Indonesia were down by between 0.13% to 1.70%.

European stocks fell, trimming the Stoxx Europe 600 Index's first October rally in three years, as concern mounted that further stimulus will fail to sustain the pace of the economic recovery.

U.S. economic growth likely edged up in the third quarter but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.

Nifty, Bank Nifty Tips for 01st Nov.

Nifty future bounce back after taking support of 5965 level and close above psychological level of 6000. If it manages this level  we can see some up move in short near term up side resistance for nifty future is 6100/6140 and support for nifty future 6005/5966. one should go for long position in nifty future above 6100.

Bank nifty witnessing sharp recovery after good result of icici bank and closed near to its good resistance level , we can see some more recovery in coming trading session resistance for bank nifty is 12500/12635 and support is 12215/12005

Share Market Review and Tips

Indian Market:

Benchmark Nifty closed below the 6000 level on expiry day for the month of October 2010 on Thursday, especially after extremely volatile trade in last one hour of trade. The market has seen highest ever turnover today; which was more than 2.6 lakh crore.

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Record demand for initial public offerings in Asia is reducing the share of U.S. IPOs to an all- time low as companies from China to Malaysia and India flood the market with more equity than ever.

State-run Punjab National Bank Ltd will find it difficult to sustain margins at current levels, Chairman K.R. Kamath told reporters on Thursday.

Global Cues:

Asian markets were trading mixed on Thursday, 28 October 2010. The key benchmark indices in Hong Kong, China, South Korea, Indonesia and Japan were down by between 0.07% to 0.24%. But, the key benchmark indices in Taiwan and Singapore were up 0.14% and 0.32% respectively.

US stocks dropped on Wednesday, 27 October 2010, amid concerns that the Fed's plan to boost the economic recovery may not be large enough. The Dow Jones Industrial Average fell 43.18 points, or 0.39%, to 11126.28 and the Standard & Poor's 500 dropped 3.19 points, or 0.27%, to 1182.45.

German unemployment fell slightly in October, dropping to its lowest level in 18 years as the impact of persistently strong growth in Europe's top economy continued to filter through to the jobs market.

Technical View on Nifty for 29th Oct., Friday

Nifty future closed below its psychological level of 6000 on the expiry day of October. Last trading session nifty future was highly volatile and up side resistance for nifty future is 6101/6180 and support for nifty 5945/5900 . If nifty sustains below 6000 level we can see more correction in it till 5900.

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Bank nifty future closed near to its support level. If it sustains below 12085 level we can see some more correction in it . Up side resistance for bank nifty is 12318/13461 and support is 12085/12925.

Market Review: News on ONGC, European Stocks, Asian Markets

Equity benchmarks closed sharply lower but managed to settle above their psychologically important levels. The sell-off was seen in power, oil & gas, private financial, FMCG, realty, cement, select auto and technology companies' shares.

State-run explorer ONGC is still jointly working with PetroVietnam on acquiring BP Plc's Vietnam assets, Oil Secretary S. Sundareshan said, which the London-listed firm has sold to its Russia joint venture.

The Reserve Bank of India (RBI) warned on Tuesday of persistent inflationary pressures on the economy from rising food prices, adding to expectations that the RBI will raise interest rates in November.

Global Cues:

Asian stock markets were mixed Wednesday, amid growing worries that the US Federal Reserve's stimulus measures may be smaller than expected. The key benchmark indices in China, South Korea, Singapore and Taiwan fell by between 0.12% to 0.16%. But, the key benchmark indices in Japan, Indonesia and Hong Kong rose by between 0.09% to 0.69%.

European stocks fluctuated amid mixed earning reports and as investors speculated whether the Federal Reserve will announce sufficient measures next week to keep the recovery on track. Asian shares and U.S. futures fell.

Treasuries dropped for the sixth day and European bonds fell before a U.S. report that may give the Federal Reserve fewer reasons to buy securities to support the economy. Greek bonds and U.S. futures retreated while commodities declined.

Nifty Futures, Bank Nifty Resistance and Support Levels for 28th Oct.

Nifty future as expected moved downwards after facing resistance at 6100 levels and is moving under a range of 6180-6000. It is not sustaining at higher levels . Up side resistance for nifty future is 6180/6225 and support 6000/5945 . Nifty future may continue to remain in this range of 6050-6200 until it breaks on either side.

Resistance : it has first resistance close to the level of 6086 & after it may face the next resistance close to the level of 6143.

Support : it has first support close to the level of 5900 & after it may get the next support close to the level of 5949.

Bank nifty future is facing a resistance at 12395 and not sustaining at higher level. Down side support for bank nifty is 12180/12085 and resistance is at 12400/12615 . One should take position after proper breakout both the side.

Resistance : It has first resistance close to the level of 12378 & after it may face the next resistance close to the level of 12506.

Support : It has first support close to the level of 12142 & after it may get the next support close to the level of 12033.

Equity Market Review and Tips

Equity benchmarks retreated on Tuesday, after witnessing a rally in previous session. Indices closed a volatile session with modest losses on the back of profit booking. Even weak European cues weighed on the markets to some extent.

Tata Motors Ltd., the owner of Jaguar Land Rover, had its credit rating raised by Moody's Investors Service for the second time this year as sales of its vehicles increased.

ArcelorMittal, the world's largest steel maker, forecast extended softness for the sector on Tuesday with muted demand and a margin squeeze set to depress profit at the end of 2010 after a weak third quarter.

Global Cues:

Asian stocks were mixed in early trading Tuesday with Japan's Nikkei index under pressure as the yen hovered near a 15-year high against the dollar. The Nikkei Average was down 0.19%. The key benchmark indices in Singapore and Hong Kong fell by between 0.11% to 0.19%. The key benchmark indices in South Korea, Taiwan, Indonesia and China rose by between 0.05% to 0.29%.

US markets closed higher on Monday, 25 October 2010, on growing expectations that the Federal Reserve will take steps to boost the US economy. In macro news, September existing-home sales rose more than expected.

Restrictions on exports create unavoidable distortions and global institutions should work together for a coherent approach to raw materials, WTO Director-General Pascal Lamy said on Tuesday.

Nifty and Bank Nifty Outlook for 27th Oct.

Nifty future as expected moved downwards after facing resistance at 6140 levels. Nifty future may continue to remain in this range of 6050-6200 until it breaks on either side. Support for nifty future is at 6050/6000 levels and resistance is at 6180/6250 levels.

Bank nifty future as expected moved downwards after facing resistance at 12500 levels. Bank nifty future may now further move down towards 12250-12180 levels if trades below 12330 levels.

Stock News: NTPC, US-index futures, Asian Markets and much more

Indian Market:

Equity benchmarks bounced back on Monday after witnessing a sell-off in the previous session on Friday. The support was led by financial ,cement, auto, healthcare and select metal companies.

NTPC executed an MoU with Government of Madhya Pradesh and MP Power Trading Company (MP Tradeco) on 22 October 2010, for setting up a 3,960 megawatts (MW) (6x660 MW) coal based thermal power project in Madhya Pradesh for the benefit of the Bundelkhand region.

India's trade deficit sharply narrowed in September to a six-month low, figures released by the trade secretary on Monday showed, but experts cautioned against reading too much into the data.

Global Cues:

Asian stocks edged higher on Monday after global finance leaders vowed at a weekend meeting to avoid potentially debilitating currency devaluations. The key benchmark indices in China, Hong Kong, Indonesia, Singapore, South Korea and Taiwan rose by between 0.19% to 1.23%. But, Japan's Nikkei Average fell 0.29%.

U.S. stock-index futures rose and the dollar fell as the Group of 20's pledge to avoid competitive devaluation added to speculation that the Federal Reserve will announce further bond purchases next week.

Japan's exports grew at their slowest pace this year in September 2010, hit by cooling foreign demand and a strong yen. Exports climbed 14.4% from a year earlier to 5.8 trillion yen ($72 billion), the Ministry of Finance said Monday.

Nifty Future Trend for 26th October

Nifty future traded between the range of 6180 to 6110 in the last trading session. Nifty future may continue to remain in this range of 6050-6200 until it breaks on either side. support for nifty future is at 6050/6000 levels and resistance is at 6180/6250 levels.

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Bank Nifty Levels and Trading Advice

Bank nifty future after facing strong resistance near 12600-12650 levels resulted in a strong sell off and closed near the days low. Bank nifty future may now further move down towards 12250-12180 levels if trades below 12330 levels.

Weekend Share Market Tips and Review

Indian Market:

Profit booking stepped in on Friday after a rally of 119 points on previous day - the benchmark Nifty closed below the 6100 level. The sell-off in metal, FMCG, capital goods, realty, auto and select private financial companies.

30-share BSE Sensex closed at 20,165.86, down 94.72 points or 0.47% and the 50-share NSE Nifty fell 35.45 points or 0.58% to settle at 6,066.05. Even the Nifty October futures' premium trimmed down to 20 points from 33 points and the Nifty November futures ended at 46 points premium, as per provisional data.

India's Supreme Court stayed an order by the Telecom Disputes Settlement and Appellate Tribunal asking mobile phone companies to pay 5 percent of revenue shared with the government as a charge for using wireless spectrum.

Global Cues:

Most Asian stock markets rose Friday, but their gains were modest as investors stayed on the sidelines ahead of the outcome of a two-day G-20 summit of major economies. The key benchmark indices in Indonesia, Japan, South Korea and Taiwan rose by between 0.15% to 0.87%.

European stocks fell, dragging the Stoxx Europe 600 Index from a six-month high, as investors speculated that additional stimulus measures by central banks will fail to sustain the pace of the economic recovery.

Singapore Exchange Ltd. (SGX) is in talks to combine with ASX Ltd., which runs the Australian stock exchange

Nifty Futures Next Week Support and Resistance Levels

Nifty future traded between the range of 6150 to 6050 in the last trading session. Nifty future may continue to remain in this range of 6000-6200 until it breaks on either side. Support for nifty future is at 6040/6000 levels and resistance is at 6180/6220 levels.

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Bank nifty future traded between the range of 12330 to 12540 in the last trading session. Bank nifty future may continue to remain in this range of 12250-12600 until it breaks on either side. Support for bank nifty future is at 12250/12080 levels and resistance is at 12620/12750 levels.

Thursday's Market Review and Tips

Indian Market:

Equity benchmarks outperformed global markets on Thursday on the back of buying across all sectors. The Nifty closed above the 6100 mark and the Sensex rallied above 20250 level. The markets bounced back today after witnessing a sell-off since Thursday barring Monday's marginal up move.

Gujarat Mineral Development Corp., an Indian mining company, is seeking partners to set up an alumina refinery and an aluminium smelter in the Kutch district of the western state of Gujarat.

National carrier Air India is likely to receive government approval for a Rs 120 million equity infusion by month-end, said Civil Aviation Minister Praful Patel on Tuesday in national capital New Delhi.

Global Cues:

Most Asian stocks rose on Thursday on growing expectations of more stimulus from the US Federal Reserve, although gains were modest as investors took a cautious stance ahead of critical economic data from China. The key benchmark indices in Hong Kong, Indonesia, Japan and Taiwan rose by between 0.2% to 0.64%. The key benchmark indices in China, Singapore and South Korea fell by between 0.03% to 0.21%.

U.S. stocks advanced, with benchmark indexes rallying the most in two weeks, on higher-than-estimated results at Boeing Co. and Yahoo! Inc. and speculation the Federal Reserve will inject more money into the economy.

The Asian Development Bank may issue a bond next year solely for water projects in a bid to lend as much as $25 billion over the next decade amid persistent supply problems in the region.a

Nifty 50 and Bank Nifty Technical Review for 22nd Oct.

Nifty future looks to have taken support near 5985 levels and has closed near the days high. Nifty future may now further move up towards 61 50 to 6220 levels if manages to stay above 6080 levels. Support for nifty future is at 6080/6000 levels and resistance is at 6150/6220 levels.
          
Bank Nifty future looks to have taken support near 12200 levels and has closed near the days high. Bank nifty future may now further move up towards 12620 to 12685 levels if manages to stay above 12400 levels. Support for bank nifty future is at 12400/12220 levels and resistance is at 12620/12685 levels.

Indian and Global Equity Markets

Indian Market:

Equity benchmarks maintained downtrend on the back of sell-off in metal, financial, realty, FMCG and auto companies' shares. The 50-share NSE Nifty closed below the 6,000 mark for the first time in last 15 sessions..

The government is likely to halt this week London-listed miner Vedanta Resources' plans to expand its alumina refinery in Orissa due to serious violation of environmental laws, government officials said on Wednesday.

Financial Inclusion Scheme has taken a new turn with the State Bank of (SBI) launching mobile banking services in Madhya Pradesh (M.P.) in collaboration with Bhopal-based organization

Global Cues:

Most Asian markets edged lower on Wednesday, 20 October 2010, after China, the world's fastest-growing major economy, unexpectedly raised itslending and deposit rates on Tuesday, 19 October 2010.The key benchmark indices in China, Japan, Singapore, Indonesia and Hong Kong were down by between 0.81% to 2.18%.

European shares were flat on Wednesday after gains for drugmakers, buoyed by Novo Nordisk on news of a peer setback, offset falling banks on concerns about the health of the financial sector.

Russia could join the World Trade Organisation within a year after talks on Moscow's 17-year-old bid made good progress, President Barack Obama's senior economic adviser said on Wednesday.

Nifty Futures Techncial Advice

Nifty future after facing strong resistance near 6080 levels resulted in a strong sell off and closed near the days low. According to advice of our technical analysts nifty future may now further move down towards 5980 to 5940 levels if it trades below 5990 levels. Support for nifty future is at 5940/5910 levels and resistance is at 6090/6140 levels.

Bank Nifty Technical Outlook (21st Oct.)

Bank nifty future after facing strong resistance near 12400 levels resulted in a strong sell off and closed near the days low. Bank nifty future may now further move down towards 12085 levels if it trades below 12180 levels. We recommend selling on higher levels with strict stop loss of 12400.

NSE Nifty Future Outlook for 20th Oct.

Nifty future after facing strong resistance near 6165 levels resulted in a strong sell off and closed near the days low. Nifty future may now further move down towards 5980 to 5940 levels if trades below 6000 levels. Support for nifty future is at 5980/5940 levels and resistance is at 6090/6140 levels.

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Bank nifty future after facing strong resistance near 12620 levels resulted in a strong sell off and closed near the days low. Bank nifty future may now further move down towards 12180 to 12085 levels if trades below 12235 levels.

Share Market News: Coal India IPO, L&T, Rupee, Dollar Euro

Engineering conglomerate Larsen & Toubro Ltd on Monday maintained its revenue growth forecast at 20 percent for the year to March 2011.
 

State-run Coal India's up to $3.5 billion Initial Public Offering (IPO) was roughly 32 percent covered by early afternoon on Monday, the first day of bids, stock exchange data showed.
 

Petronet LNG Ltd., India's biggest importer of liquefied natural gas, will receive three cargoes of the fuel in the coming

Engineering conglomerate Larsen & Toubro Ltd on Monday maintained its revenue growth forecast at 20 percent for the year to March 2011. 

The rupee opened down on Monday tracking losses in Asian currencies.

Yields on India's 10-year government bonds are poised to rise above the inflation rate for the first time since January as the central bank tames prices.

The battered dollar rose on Monday, edging further away from a 10-month low, while Asian stocks pulled back from a two-year high as markets awaited details of a widely expected easing in U.S. monetary policy.

Oil declined for a third day in New York, its longest slide in a month, on a stronger dollar and concern that U.S. fuel consumption is rebounding too slowly.

The European Union's monetary affairs chief urged member states to agree on tough budget reforms on Monday after some countries said enthusiasm for far-reaching change was waning.

Yields on India's 10-year government bonds are poised to rise above the inflation rate for the first time since January as the central bank tames prices.

Nifty Futures Recommendation for 19th Oct.

Nifty Future Recommendation

Nifty future opened with a gap down after the first day of the pre-opening session and has taken support near 6005 levels . Nifty future has closed near the days high and may continue to move further upside towards 6150 to 6180 levels. Support for nifty future is at 6080/6020 levels and resistance is at 6180/6220 levels.

We recommend buying on dips with strict stoploss of 5995 levels.

Bank Nifty Futures Recommendation


Bank nifty future also opened with a gap down after the first day of the pre opening session and has taken support near 12235 levels . Bank nifty future has closed near the days high and may continue to move further upside towards 12520 to 12600 levels.

We recommend buying on dips with strict stoploss of 12200 levels.

Stock Market Review

Indian Market:

Equity benchmarks have seen heavy profit booking since yesterday and wiped out nearly 373 points today & 190 points on Sensex on Thursday while it had surged 485 points on Wednesday. The Nifty has been getting selling pressure whenever it starts inching towards all-time high.

The 30-share BSE Sensex closed at 20125, down 373 points and the Nifty was at 6062, down 115 points.

India's inflation unexpectedly accelerated, increasing pressure on the central bank to extend the most aggressive monetary policy tightening in Asia.

Textile major Raymond's plans to develop a reality project on its 126-acre Thane unit reportedly seems to be getting closer to fructifying with the company close to reaching an out-of-court settlement with its labour union representing 1,885 employees working in the unit.

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Global Cues:

Asian markets were trading mixed on Friday, 15 October 2010. The key benchmark indices in China, South Korea, Singapore and Taiwan rose by between 0.12% to 0.70%. But, the key benchmark indices in Japan, Indonesia and Hong Kong were down by between 0.30% to 0.72%.

European stocks and U.S. futures fluctuated before a speech by the Federal Reserves Ben S. Bernanke that may provide further clues about the central bank's plans to stimulate the economy. Asian shares declined.

US stocks ended slightly lower on Thursday, 14 October 2010 as investors retreated from financials because of concerns over banks' foreclosure practices. The Dow Jones Industrial Average fell 1.51 points, or 0.01%, to 11094.6, snapping a four-session winning streak in a day of choppy trading.

Enel set the price for its green energy arm's listing at 1.8-2.1 Euros a share, below a previously indicated range and valuing it at up to 10.5 billion Euros ($15 billion) in Europe's biggest IPO in three years.

Nifty Techncial View Next Week (18th Oct.)

Nifty Future as expected resulted in sell off after positive opening near 6224 has seen huge profit booking in the last trading session. Now on the upside resistance is at 6160/6200 levels and on the downside support is at 6050/5980 levels. We recommend selling on rise with strict stop loss of 6150.

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Bank Nifty Future as expected resulted in sell off after positive opening near 12685 has seen huge profit booking in the last trading session. Now on the upside resistance is at 12520/12600 levels and on the downside support is at 12180/12085 levels. We recommend selling on rise with strict stop loss of 12620.

Today's Equity Market Review

Equity benchmarks stalled the follow-up rally by erasing more than 190 points on Sensex on the back of profit booking in major sectors like infrastructure, financial, telecom and oil & gas. The sell-off as well as consolidation was imminent because the Sensex rallied more than 650 points from Wednesday till today's spike up in initial trade.

L&T infrastructure Finance, a unit of construction conglomerate Larsen & Toubro said it will raise up to 7 billion rupees by selling 10-year bonds to retail investors.

Reliance Capital on Thursday "categorically" denied a TV report that it was in talks for a 26 percent stake sale to U.S. fund firm T Rowe Price.

Global Cues:

Asian markets edged higher on Thursday, 14 October 2010, as strengthening economic and corporate earnings data boosted confidence in a global recovery. The key benchmark indices in Japan, Indonesia, China, South Korea, Hong Kong, Taiwan and Singapore rose by between 0.23% to 1.82%.

European stocks surged to the highest level in three weeks as better-than-estimated earnings boosted confidence in the global economic recovery. Asian shares and U.S. index futures advanced.

Asia will end 2010 with strong growth but a faltering recovery in the United States and Europe will hurt export-oriented Asian economies more than domestically focused ones in 2011, a Reuters quarterly poll shows.

Nifty Futures and Bank Nifty Futures Tips

Nifty Future after facing strong resistance near 6320 has seen some profit booking in the last trading session. Now on the upside resistance is at 6250/6280 levels and on the downside support is at 6140/6080 levels. 

We recommend selling on rise with strict stop loss of 6260. 

Also See: Dalal Street Tips

Bank nifty future after facing strong resistance near 12885 has seen some profit booking in the last trading session. Now on the upside resistance is at 12690/12760 levels and on the downside support is at 12520/12400 levels. 

We recommend selling on rise with strict stop loss of 12885.

Bulls, Dalal Street, FII's: Indian Stock Market Review

Indian Market Review:

Bulls have taken control of Dalal Street on Wednesday after a consolidation for previous four days, supported by foreign money. It seemed like the benchmark Nifty has given a signal to cross the all-time high soon; it closed at 32-month high today on broad based buying and stayed above 6200 level.

The 30-share BSE Sensex closed at 20,687.88, up 484.54 points or 2.40% and the 50-share NSE Nifty surged 143 points or 2.35% to settle at 6,233.90.

Unstoppable buying by foreign institutional investors (FIIs) was the actual factor behind this rally. FIIs were net buyers to the tune of more than Rs 40,000 crore since first day of September month till date.

Global Cues:

China's foreign-exchange reserves, the world's largest, surged by a record to $2.65 trillion at the end of September, adding fuel to complaints that the nation's curbs on gains in the yuan are undermining the global recovery.

Standard Chartered Plc's 3.3 billion-pound ($5.2 billion) rights offer may mark the start of a race among European banks to raise more capital than the minimum required by international regulators under Basel III.

U.S. mortgage applications for home refinancing loans rose for the first time in six weeks, with demand jumping to its highest level since late August as home-owners reacted to record low interest rates, data from an industry group showed on Wednesday.

Nifty Futures Levels for Intraday Traders (14th October)

Nifty future closed on a strong note above 6250 in the last trading session. 

Now on the upside resistance is at 6300/6350/6450 levels and on the downside support is at 6220/6180/6140 levels. 

Nifty future in the last trading session has closed above the 6250 levels and looks like some more upside movement is possible in next few trading sessions. we recommend buying on dips with strict stoploss of 6200.
  
Resistance: It has first resistance close to the level of 6300 & after it may face the next resistance close to the level of 6350.
     
Support: It has first support close to the level of 6050 & after it may get the next support close to the level of 5980.

Bank Nifty Recommendation with Resistance and Support Levels

Bank nifty future closed on a strong note above 12800 in the last trading session. 

Now on the upside resistance is at 13000/13150 levels and on the downside support is at 12750 and 12650 levels. We recommend buying on dips with strict stoploss of 12650. 

Resistance: It has first resistance close to the level of 13000 and after it may face the next resistance close to the level of 13150. 

Support: It has first support close to the level of 12750 and after it may get the next support close to the level of 12650.

US Copper hit its highest level due to quantitative easing

Fundamental Review

Gold steadied in Europe on Monday, surrendering earlier gains, in line with a slight gold eased in Europe on Tuesday as the dollar rebounded on the back of uncertainty over the extent of quantitative easing expected from U.S. authorities, denting interest in the metal as a haven from weak currencies. US Copper hit its highest level in more than two years on Monday, buoyed by expectations of more quantitative easing (qe) in the united states, eroding the dollar and making metals cheaper.

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News Highlight

US Gold eases below $1,350/oz as dollar recovers.
Oil slips towards $82 on stronger dollar.
US Copper falls, market awaits insight on qe.
Indian turmeric eases on pick-up in arrivals; seen steady.

Free Nifty Tips for Today

Technical View on Nifty (13th October ‘10)

Nifty future continued to stay below 6200-6180 level in the last trading session. Now on the downside next support is at 6095/6045/5980 levels and on the upside resistance is at 6180/6220/6250 levels. Nifty future in the last trading session has closed again below the 6160 levels and looks some more selling is due in markets. We recommend selling on higher levels with strict stop loss of 6200.

Technical View on Bank Nifty (13th October ‘10)

Bank nifty future as expected, below 12625-12600 resulted in a good sell off and making new low everyday, now on the downside next logical support are 12400-12180 levels and on the upside resistance is at 12650 and 12750 levels. Selling on higher levels will still be good strategy in bank nifty future with strict stop loss of 12650.

Stock Market Review Indian and Global

Benchmark Nifty closed higher and maintained the 6100 level on Monday, led by metal, healthcare, auto and select power companies' share.

Sesa Goa Ltd., India's largest iron ore exporter, deferred its open offer for Cairn India Ltd. shares that was due to start today, delaying parent Vedanta Resources Plc's plan to enter the oil exploration business.

Reliance Communications Ltd., India's second-largest mobile phone operator, may sell bonds or borrow from banks overseas to repay about 86 billion rupees ($1.9 billion) of debt.

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Global Cues:

Asian stocks rose on Monday as resource sector shares extended their climb on expectations of further US monetary easing. The key benchmark indices in China, Hong Kong, Indonesia, South Korea and Singapore rose by between 0.23% to 1.7%. But, Taiwan's Taiwan Weighted fell 0.17%. Japanese markets were shut for a holiday.

European stocks climbed, extending the biggest weekly gain in a month for the benchmark Stoxx Europe 600 Index, amid continuing speculation that the Federal Reserve will step in to support the economy. U.S. index futures and Asian shares advanced.

China has raised reserve requirements for six large commercial banks on a temporary basis, a move to drain cash from the economy but avoid over-tightening.

Nifty & Bank Nifty today's trading (12th Oct.)

In today's trading, nifty future was trading under consolidation phase. If it sustain above 6230 level it can tack some up move from here and we can see next level of 6250 6290 and 6300, in short term . 6093 is good support level if it break we can see some more corrections in it.

Bank nifty moving under a range 12710 is good level if it sustain above this level we can see some up move from,12790, 12820 in near term 11465 is good support level bleow this level we can see some correction.

Market Review : Indian and Global Share Market

Indian Market:

Equity benchmarks ended with moderate losses after showing smart recovery in late trade due to short covering. But the Nifty managed to claw back above 6100 level.

30-share BSE Sensex closed at 20,250.26, up 65.06 points or 0.32% and the 50-share NSE Nifty fell 16.85 points or 0.28% to settle at 6,103.45. Even the broader indices ended 0.3-0.5% lower. However, the Nifty October futures ended 39 points premium, as per provisional data.need to restrict foreign institutional investment and foreign direct investment at this time, Finance Minister Pranab Mukherjee said after the rupee climbed to near a two-year high.

The open offer of Sesa Goa, the Indian subsidiary of Vedanta Resources, to acquire a 20% stake in Cairn India from public shareholders has reportedly hit a roadblock as Sebi is yet to give its approval to the offer. The offer was scheduled to start on 11 October 2010.

Global Cues:

Asian stock markets were mixed on Friday as a strong yen dragged on Japanese shares and uncertainty clouded sentiment ahead of a key US jobs report due later in the global day. The key benchmark indices in Taiwan, South Korea, Japan and Indonesia fell by between 0.39% to 0.91%. But, the key benchmark indices in China, Hong Kong and Singapore rose by between 0.09% to 2.36%.

Technical View on Nifty and Bank Nifty Future for 11th Oct.

Technical Overview on Nifty (11th October '10)
     
Nifty future as mentioned earlier resulted in sell off as it continued to stay below 6200-6180 level in the last trading session. Now on the downside next support is at 6095/6045/5980 levels and on the upside resistance is at 6180 and 6220 levels. Nifty future in the last trading session has closed again below the 6160 levels and looks some more selling is due in markets in the coming week.
     
Technical Overview on Bank Nifty (11th October '10)
     
Bank nifty future as foretold in our previous reports, below 12625-12600 resulted in a good sell off and touched low of 12465.50 in the last trading session, now on the downside next logical support are 12400-12180 levels and on the upside resistance is at 12650 and 12750 levels. Selling on higher levels will still be good strategy in bank nifty future in next week also with strict stop loss of 12650.

Stocks Market Tips and Review for free

Indian Market:

Nifty has been facing lot of selling pressure whenever it tests 6200 level but it has still been maintained a range of 6100-6200.

India-focused mining group Vedanta, which posted mixed second quarter output data, has postponed the expansion of aluminium operations after the Indian government rejected a plan to mine the raw material to make the metal.

Novelis Inc, the US-based aluminium cans maker owned by the Aditya Birla Group, is reportedly in talks to buy BP Plc's 60% stake in its US joint venture, Logan Aluminium, for $600 million in an all-cash deal.

Global Cues:

Asian stocks were mixed on Thursday. The key benchmark indices in Singapore, South Korea and Indonesia fell by between 0.19% to 0.55%. But, the key benchmark indices in Taiwan, Japan and Hong Kong rose by between 0.12% to 0.32%.

European shares turned positive in mid morning trade on Thursday, in a choppy session as investors await interest rate decisions and policy indications from the Bank of England and the European Central Bank.

The IMF on Wednesday, 6 October 2010, said Asia faces policy challenges as capital flows to the region increase, raising the risk of inflation, asset price bubbles and financial sector instability. It estimates that capital inflows to emerging Asia in the past 12 months more than quadrupled from 2008 levels.

Nifty and Bank Nifty Levels for 08th Oct.

Nifty future as mentioned earlier faced strong resistance near 6245-6250 zone, and resulted in a sell off from this zone. Now on the downside first support is at 6095 and 6015 level and on the upside resistance is at 6180 and 6220 levels. Nifty future in the last trading session has closed below the 6160 levels and looks some more selling is due in markets going ahead, for intra day we recommend selling at higher levels till it stay below 6200-6180 levels. 

Bank nifty future below 12625-12600 resulted in a good sell off and now on the downside first support is at 12450-12400 zone and on the upside resistance is at 12680 and 12780 levels. For intra day we recommend selling at higher levels till it closes  below 12625 levels for targets of 12525-12450 levels.

Indian Share Market Update

Indian Market:

Equity benchmarks bounced back on Wednesday after a moderate profit booking in previous two days. The Nifty has been facing a resistance at 6200 level; it did touch that level again in initial couple of hours of trade today but could not maintain the same.

30-share BSE Sensex closed at 20,543.08, up 135.37 points or 0.66% and the 50-share NSE Nifty rose 40.65 points or 0.66% to settle at 6,186.45. The Nifty October futures ended at 24.5 points premium. The broader indices outperformed benchmarks; the BSE Midcap Index was up 1.1% and Smallcap up 0.75%.

Sebi rejected MCX Stock Exchange's (MCX-SX) application for trading in segments like equity and equity derivatives, the finance ministry is understood to have argued that MCX-SX has 'technically' complied with the MIMPS regulations.

Global Cues:

Asian stock markets rose Wednesday, 6 October 2010, buoyed by growing expectations that the Federal Reserve will take steps to bolster the US economy following a surprise rate cut by the Bank of Japan on Tuesday, 5 October 2010. Investors cheered the Bank of Japan's move Tuesday to slash its key interest rate to virtually zero.

Nifty Future Trend for 07th Oct.

Nifty future as mentioned earlier faced strong resistance near 6245-6250 zone, and resulted in a sell off from this zone. Now on the downside first support is at 6160 and 6095 level and on the upside resistance is at 6250 and 6280 levels. Nifty future has been trading in this band of 6160-6250 for last few trading sessions and is expected to remain in this band for some more time, before it breaks on either side. For intra day we recommend buying at lower levels till it manages to hold 6095 levels.

Bank Nifty Levels

Bank nifty future as mentioned earlier faced strong resistance near 12750-12790 zone, and resulted in a sell off from this zone. Now on the downside first support is at 12620 and 12525 level and on the upside resistance is at 12750 and 12850 levels. Bank nifty future has been trading in this band of 12790-12620 for last few trading sessions and is expected to remain in this band for some more time, before it breaks on either side. For intra day we recommend buying at lower levels till it manages to hold 12600 levels.

Stock Market Review

Indian Market:

Equity benchmarks closed another session with modest losses after witnessing a consolidation for the entire session. The sell-off in financial, metal, FMCG and select technology companies' shares.

The yield on India's 10-year benchmark government bond rose two basis points after his statements while the one year Overnight Indexed Swap (OIS) rose eight basis points to 6.64 percent.

British Telecom (BT), one of the original promoters of Tech Mahindra, has reportedly re-initiated discussions to sell its stake in the firm and has attracted the interest of private equity firm Providence Equity Partners.

Global Cues:

Asian stock markets retreated Tuesday after a disappointing drop in US factory orders and a subsequent fall on Wall Street. The key benchmark indices in Indonesia, Singapore, Taiwan, Hong Kong and South Korea fell by between 0.01% to 0.7%. But, Japan's Nikkei Average rose 0.02%. Chinese markets were closed for a holiday.

Nifty Future Tips for Next Day

Nifty future after a positive opening was sideways for rest of the day. Nifty future is still looking bullish. 6160-6135-6100 are major support levels in nifty. If nifty sustains above this level we can expect a bounce back up to 6250-6300
     
Bank nifty was in consolidation phase but overall trend is bullish and if it sustains above 12760 level we can see next levels of 12820-12850 in coming trading sessions. It has good support at 12490.

Commodity Market Fundamental Review 05th Oct.

News Highlight US GOLD NEAR RECORD HIGHS, EYES FRESH DOLLAR WEAKNESS. US OIL BREAKS $ 81 LEVEL; ON MORE THEN 2 MONTHS HIGH. US COPPER RALLY STALLS AS DOLLAR REBOUNDS, STOCKS RISE. INDIAN PEPPER FALLS ON SLUGGISH EXPORTS; TURMERIC UP. Fundamental Review US GOLD FIRMED ON MONDAY, SUPPORTED NEAR RECORD HIGHS AS INVESTORS CONTINUED TO FRET ABOUT THE OUTLOOK FOR THE DOLLAR AMID SPECULATION OF FURTHER U.S. MONETARY EASING, BUT WITH A RECOVERY IN THE UNIT KEEEING A LID ON GAINS. US COPPER STEADIED ON MONDAY, AFTER TOUCHING A MORE THAN TWO-YEAR PEAK IN THE PREVIOUS SESSION, AS TRADERS WEIGHED A RECOVERY IN THE DOLLAR AND AN INCREASE IN INVENTORIES AGAINST TIGHTENING SUPPLY-DEMAND BALANCES.

Nifty Future for Intraday

For intraday we recommend buying at lower levels till it manages to hold 6095 levels.

 

Nifty future as mentioned earlier faced strong resistance near 6245-6250 zone, and resulted in a sell off from this zone. Now on the downside first support is at 6140 and 6095 level and on the upside resistance is at 6220 and 6250 levels. Nifty future has closed near the days low and some more sell off may be expected in coming sessions but till it manages to close above 6095 chances of strong pull backs cannot be negated. 

 

Bank Nifty Future Tips for 05th October

Bank nifty future as mentioned earlier faced strong resistance near 12750-12790 zone, and resulted in a sell off from this zone. Now on the downside first support is at 12620 and 12525 level and on the upside resistance is at 12750 and 12850 levels. Bank nifty future has closed near the days low and some more sell off may be expected in coming sessions but till it manages to close above 12450 chances of strong pull backs cannot be negated. For intra day we recommend buying at lower levels till it manages to hold 12450 levels.

Commodity News: US Gold, China Data and Indian Pepper

Fundamental Review

US Gold hit record highs for a sixth successive session on friday as the dollar fell to a six-month low against the euro, with expectations for further u.s. monetary easing driving strong demand for the precious metal. Copper rallied on friday to its highest in more than two years as strong manufacturing data from china, the world's largest consumer of industrial metals, boosted demand expectations.

News Highlight

• US Gold at record for sixth day; U.S. policy in focus.
• Oil jumps to $81, dollar, China data support.
• China data cheers US Copper to two-year high.
• Indian Pepper Futures end off lows; outlook weak.

Nifty and Bank Nifty Futures Technical Levels

Nifty Futures Technical Levels

Nifty future had formed a good support near 5940 levels and has closed on a very strong note on Friday's session above 6150 levels and looking technically strong for more fresh up moves. The next technical resistance for nifty future seems close to the level of 6205 and 6245 levels. decisive closing above this resistance zone may take up nifty future to the levels of 6292/6336 in near future. Strong support for nifty future is at 5940. Decisive closing below this support zone may take it to levels of 5895 to 5900 in near run. 

Bank Nifty Futures Technical Levels

Bank nifty future has closed on a very strong note again on the last trading session and is still looking to move ahead for more gains in coming week. Support for bank nifty future is at 12399-12350 levels. Technically looking for more gains from here. The next technical resistance for bank nifty future seems close to the zone of 12680 and 12750 levels. Decisive closing above this resistance zone may take up it till the level of 12950 in near future. Decisive closing below 12350 may drag it down to the levels of 12200/12050 in near future.